Brown & Brown, Inc. (BRO) Holdings Lifted by Liberty Mutual Group Asset Management Inc.

Liberty Mutual Group Asset Management Inc. lifted its position in Brown & Brown, Inc. (NYSE:BRO) by 54.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,576 shares of the financial services provider’s stock after purchasing an additional 16,118 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Brown & Brown were worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of BRO. Deutsche Bank AG raised its position in Brown & Brown by 1,280.2% during the fourth quarter. Deutsche Bank AG now owns 757,949 shares of the financial services provider’s stock worth $39,001,000 after acquiring an additional 703,032 shares during the period. State of Alaska Department of Revenue acquired a new position in Brown & Brown during the fourth quarter worth $360,000. California State Teachers Retirement System raised its position in Brown & Brown by 0.6% during the fourth quarter. California State Teachers Retirement System now owns 197,272 shares of the financial services provider’s stock worth $10,152,000 after acquiring an additional 1,215 shares during the period. Envestnet Asset Management Inc. raised its position in Brown & Brown by 3.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 43,446 shares of the financial services provider’s stock worth $2,236,000 after acquiring an additional 1,640 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Brown & Brown by 314.6% during the fourth quarter. Teacher Retirement System of Texas now owns 40,791 shares of the financial services provider’s stock worth $2,099,000 after acquiring an additional 30,953 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Shares of BRO traded up $0.04 during mid-day trading on Thursday, reaching $28.33. The stock had a trading volume of 656,500 shares, compared to its average volume of 1,202,045. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. Brown & Brown, Inc. has a 52-week low of $21.15 and a 52-week high of $28.64. The firm has a market capitalization of $7.90 billion, a P/E ratio of 29.41, a P/E/G ratio of 2.33 and a beta of 0.69.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, April 23rd. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.04. Brown & Brown had a net margin of 21.92% and a return on equity of 12.04%. The firm had revenue of $501.50 million during the quarter, compared to analyst estimates of $491.00 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. Brown & Brown’s quarterly revenue was up 7.8% on a year-over-year basis. equities research analysts predict that Brown & Brown, Inc. will post 1.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 18th. Investors of record on Wednesday, May 9th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Tuesday, May 8th. Brown & Brown’s dividend payout ratio is currently 31.25%.

A number of research firms have weighed in on BRO. Zacks Investment Research upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Monday, June 4th. Morgan Stanley upped their target price on shares of Brown & Brown from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Tuesday, May 29th. Citigroup upped their target price on shares of Brown & Brown to $24.50 and gave the stock a “sell” rating in a report on Tuesday, May 8th. ValuEngine raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Raymond James upped their target price on shares of Brown & Brown from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Brown & Brown has an average rating of “Hold” and a consensus price target of $26.17.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.

Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

Receive News & Ratings for Brown & Brown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply